While the program is open to all, Chinese nationals are likely to be among the biggest takers, according to people involved with the program.

WSJ: Australia Offers Visa for Millionaires

So while China's size will be a huge opportunity for Chinese people and the rest of the world as they consume more, it might not mean China and its customs will be copied all over the world, as has been the case for America over the past 50 years since it became so important.

ECONOMIST: The World in 2036

The downward trend for monthly inflation is expected to continue, says the Overseas Edition of the People's Daily, while China Daily hints that this may lead to policy changes by the Chinese government aimed at promoting growth.

BBC: China morning round-up: Inflation and economy discussed